Unit 16 Assignment

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UNIT 16: EXPLORING BUSINESS ENTERPRISE Learning Outcomes On completion of this unit a learner should: 1. Understand how to prepare for business 2. Know how different aspects affect preparation for business 3. Understand how to start and run a business SCENARIO Claire and Zorina are both in their last year in the 6th Form and hope to go onto university. However, their parents cannot afford t o help them financially and they have been discussing what they can both do about this. They have agreed that starting their own business will be a good way of making some money. Having discussed various options they have both agreed on the idea of starting a house-cleaning business in their local area. Claire is quiet and shy, but organised and very good at keeping records and accounts – she is studying Accountancy at A level. She has saved £1,000 to invest in her business venture. Zorina is an extrovert, knows lots of people in her area as her parents run various local businesses – she is studying Business Studies at A level and is very interested in marketing. She has £100 saved to invest in the venture, but she has recently bought a van. Both girls hope to start their degrees next October and need the business to be successful to help finance their university fees and living expenses. They will still live with their parents initially. They have found out that they will have to attend lectures and seminars for two days a week, but they will be able to spend the other five days running their business. They have researched their idea, and have found out that there are only two other local businesses operating as sole traders in their local area of about 80,000 people. They will not need premises, but will need a phone line, phone, answer machine, two Dyson cleaners, a supply of brooms, mops, dusters, window leathers, and cleaning fluids.
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